Australia: Vermouth Market 2024

Vermouth Market Size in Australia

After five years of growth, the Australian vermouth market decreased by -7.7% to $X in 2022. In general, the total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2021, and then dropped in the following year.

Vermouth Production in Australia

In value terms, vermouth production fell to $X in 2022 estimated in export price. Over the period under review, the total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.8% against 2019 indices. The growth pace was the most rapid in 2015 when the production volume increased by 106%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Vermouth Exports

Exports from Australia

In 2022, after two years of decline, there was significant growth in shipments abroad of vermouth, when their volume increased by 77% to X litres. In general, exports posted a significant expansion. The pace of growth appeared the most rapid in 2015 with an increase of 130% against the previous year. Over the period under review, the exports hit record highs at X litres in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, vermouth exports surged to $X in 2022. Overall, exports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 346%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Singapore (X litres) was the main destination for vermouth exports from Australia, accounting for a 66% share of total exports. Moreover, vermouth exports to Singapore exceeded the volume sent to the second major destination, New Zealand (X litres), fourfold. The third position in this ranking was taken by Thailand (X litres), with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Singapore amounted to +134.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (+5.4% per year) and Thailand (+184.5% per year).

In value terms, the largest markets for vermouth exported from Australia were Singapore ($X), New Zealand ($X) and Thailand ($X), together accounting for 79% of total exports.

Thailand, with a CAGR of +160.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average vermouth export price amounted to $X per litre, with a decrease of -19.2% against the previous year. Overall, the export price recorded a abrupt decrease. The most prominent rate of growth was recorded in 2015 when the average export price increased by 94%. As a result, the export price reached the peak level of $X per litre. From 2016 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per litre), while the average price for exports to Singapore ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+7.3%), while the prices for the other major destinations experienced mixed trend patterns.

Vermouth Imports

Imports into Australia

After two years of growth, purchases abroad of vermouth decreased by -59% to X litres in 2022. Over the period under review, imports, however, recorded a buoyant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 105%. Over the period under review, imports reached the maximum at X litres in 2021, and then contracted rapidly in the following year.

In value terms, vermouth imports reduced remarkably to $X in 2022. In general, imports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of 123%. As a result, imports reached the peak of $X, and then dropped sharply in the following year.

Imports by Country

In 2022, Italy (X litres) constituted the largest supplier of vermouth to Australia, with a 76% share of total imports. Moreover, vermouth imports from Italy exceeded the figures recorded by the second-largest supplier, France (X litres), eightfold. The third position in this ranking was taken by Chile (X litres), with a 6.7% share.

From 2012 to 2022, the average annual growth rate of volume from Italy stood at +10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+13.5% per year) and Chile (+67.6% per year).

In value terms, Italy ($X) constituted the largest supplier of vermouth to Australia, comprising 77% of total imports. The second position in the ranking was held by France ($X), with a 9.6% share of total imports. It was followed by Chile, with a 7.2% share.

From 2012 to 2022, the average annual growth rate of value from Italy amounted to +14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+3.7% per year) and Chile (+65.3% per year).

Import Prices by Country

In 2022, the average vermouth import price amounted to $X per litre, surging by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2021 when the average import price increased by 28%. The import price peaked at $X per litre in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Chile ($X per litre), while the price for Greece ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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